Ref: May 20 Op-Ed Page
Two letters from Dave Anderson and Keith Varney display a misunderstanding of economics. They both point out results of economic activity in the world that they disapprove.
Mr. Varney ignores any consideration of someone making shirts at low wages; perhaps those wages are not low in their village.
Free market economics helps more people and reduces poverty if based on:
n Private property rights (the opposite of slavery)
n Rule of law, and
n Stable monetary system
The result across the globe in America, Europe and Asia is that more people are better off.
To lambaste the system is counterproductive. Government solutions are a mistake. Government social programs do not work.
Smaller government, lower taxes and more freedom does work. Study writings from a variety of economists and examine the results.